U.S. stocks close higher

U.S. stocks ended higher on Wednesday.

The Dow Jones Industrial Average rose 645.47 points, or 1.31 percent, to 50,009.35. The Standard and Poor's 500 added 79.36 points, or 1.08 percent, to 7,432.97. The Nasdaq Composite Index increased by 399.65 points, or 1.55 percent, to 26,270.359.

Eight of the 11 primary Standard and Poor's 500 sectors ended in green, with consumer discretionary and technology leading the gainers by rising 2.50 percent and 1.87 percent, respectively. Meanwhile, energy and consumer staples led the laggards by dropping 2.59 percent and 0.97 percent, respectively.

U.S. stocks close higher

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 48 pips to 6.8349 against the U.S. dollar Thursday, according to the China Foreign Exchange Trade System.

In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.

The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

Chinese yuan strengthens to 6.8349 against USD Thursday